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Why Oil Tanker Market May Take Trump’s Sanctions In Stride This Time

From bnnbloomberg.ca

The Trump administration’s plan to add as many as 50 oil tankers to an already long list of sanctioned vessels would be enough to send global shipping costs surging under normal circumstances. But the demand fallout from the pandemic may have freed up enough vessels to keep prices from skyrocketing as they did last year when the U.S. announced penalties against units of China’s biggest shipping company for violating restrictions on carrying Iranian petroleum. “Adding 50 more ships to the list may not be enough to bring another spike,” said Peter Sand, chief shipping analyst at industry group BIMCO, citing a mismatch ... (full story)

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  • Category: Fundamental Analysis